Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1986.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
17 people listed on the 990; $126K paid to officers and key staff.
Kathleen McCarthy’s $130K as Executive Director is at the 54th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 2 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Richard Freeman | — | — | — | $143,259 | — |
| Kathleen McCarthy | $130,078 | $125,843 | $119,746 | $119,747 | $120,458 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Nfa Foundation INC executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Raises money to support Norwich Free Academy.
Questions for Nfa Foundation INC
Your first name shows with your question. Nfa Foundation INC answers here, for everyone.
The foundation primarily solicits and receives contributions, grants, and bequests for the norwich free academy (nfa). The foundation also held five reunion events in 2024. This provided opportunities for alumni in boston and two locations in florida to connect with fellow nfa alumni residing in their cities.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| End of yearLn 1g | $82.7M | $77.2M | $73.9M | $85.3M | $71.2M |
| Given inLn 1b | $1.7M | $634K | $2.6M | $2.0M | $585K |
| SpentLn 1d–1f | $3.3M | $3.1M | $5.8M | $8.5M | $2.6M |
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.5M | $1.5M |
| InvestmentsLn 11–13 | $78.7M | $84.2M |
| Total assetsLn 16 | $80.2M | $85.8M |
| LiabilitiesLn 26 | $4.4M | $4.3M |
| Net assetsLn 32 | $75.8M | $81.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $2.0M | $2.0M | ||
| Grants to domestic individualsLn 2 | $822K | $822K | ||
| Pay of current officers, directors and key staffLn 5 | $178K | $53K | $62K | $62K |
| Other salaries and wagesLn 7 | $244K | $73K | $85K | $85K |
| Pension plan contributionsLn 8 | $36K | $11K | $13K | $13K |
| Other employee benefitsLn 9 | $28K | $8K | $10K | $10K |
| Payroll taxesLn 10 | $29K | $9K | $10K | $10K |
| Legal feesLn 11b | $11K | $11K | ||
| Accounting feesLn 11c | $47K | $47K | ||
| Investment management feesLn 11f | $59K | $59K | ||
| Other fees for servicesLn 11g | $65K | $28K | $37K | |
| Advertising and promotionLn 12 | $205 | $147 | $29 | $29 |
| Office expensesLn 13 | $33K | $10K | $12K | $12K |
| OccupancyLn 16 | $74K | $64K | $5K | $5K |
| TravelLn 17 | $6K | $5K | $895 | $895 |
| Other expenses (24a–d)Ln 24 | $82K | $82K | ||
| All other expensesLn 24e | $137K | $99K | $19K | $19K |
| Total functional expensesLn 25 | $3.9M | $3.3M | $334K | $254K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Mar 10, 2026 | $4.6M | $3.9M | $663K | $88.0M | 990 PDF |
| FY2024 ViewingFiled with the IRS Mar 13, 2025 | $5.5M | $3.9M | $1.6M | $81.5M | 990 PDF |
| FY2023Filed with the IRS Apr 25, 2024 | $3.7M | $3.8M | −$101K | $75.8M | 990 PDF |
| FY2022Filed with the IRS Mar 16, 2023 | $5.4M | $14.6M | −$9.2M | $72.8M | 990 PDF |
| FY2021Filed with the IRS Apr 13, 2022 | $4.8M | $5.6M | −$776K | $93.2M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $5,507,209 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, 1 to look at
Part VIII · Statement of revenue $5,507,209 across 9 lines filed
Part IX · Statement of functional expenses $3,870,297 across 17 lines filed
Part X · Balance sheet $85,767,761 assets, 12 lines filed
Part XI · Reconciliation of net assets $81,466,749 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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